Corporate

Company Snapshot

Property:Spanish Mountain Gold Project 
Ownership:100% Ownership 
Symbol:TSX.V: SPA | OTC: SPAZF 
Location:British Columbia, Canada 
 Share  Structure:Shares Issued & Outstanding:
Fully Diluted:
238,625,957
270,292,624
Market Capital:            ~ $25 million 
Management:Larry Yau, CEO
Sharon Ng, CFO
Judy Stoeterau, VP of Geology
   
Board of Directors:Morris Beattie
Don Coxe
Dale Corman
Christopher Lattanzi
James Clare
W. Terry MacLean
Sara Heston

Highlights of Proposed Operations

Phase I operation has a mine life of 11 years with peak production of 130,000 ounces per annum (Year 4) and an average LOM annual production of 104,000 ounces of gold for a total of 1,145,000 ounces.

Operational and Cost Metrics

 UnitsYears 1 - 5
Average
Lif of Mine
Gold gradeg/t1.131.00
Recovery%9191
Annual Gold Productionkoz116104
Cash Cost/ ozUS$481511
All-in-sustainable Cash Cost/ ozUS$519549
Total Cost/ ozUS$776807

Project Economics

Project Economics at
Select Gold Price (US$)
Units$1,100$1,200$1,275*$1,450$1,500$1,600$1,700$1,800
Pre-tax         
    NPV at 5%C$mm$232$336$414$596$648$752$856$960
    Internal Rate of Return (IRR)%16%20%23%29%31%34%37%40%
    Payback of Initial CapexYears4.33.83.52.92.82.62.42.2
Post-tax         
    NPV at 5%C$mm$201$274$325$443$476$543$609$676
    Internal Rate of Return (IRR)%15%18%21%26%27%30%32%35%
    Payback of Initial CapexYears4.33.83.5 3.02.92.62.42.3

*base case

Processed Materials in Mine Plan

PEA Mine Plan SummaryUnitAmount
Measured and Indicated Mill FeedMt39.10
Gold Gradeg/t1.00
Silver Gradeg/t0.74
Measured and Indicated Goldkoz1,258
Measured and Indicated Silverkoz927

Initial Capital Expenditures

Direct CostsInitial Capital Cost
(C$ Million)
    Overall Site6.7
    Open Pit Mining70.2
    Processing Plant (including Ore Handling)77.4
    Tailing Management Facility & Water Management46.7
    Environmental12.0
    On-Site Infrastructure24.0
    Off-Site Infrastructure17.1
Sub-Total254.1
Indirect Costs 
   Project Indirects58.9
   Owner’s Costs9.3
   Contingencies41.5
Sub-Total109.7
Total Initial Capital Cost363.8

Unit Operating Cost

AreaUnit Cost (C$)
Mining ($/t mined)$2.48
Mining ($/t milled)$10.73
Processing ($/t milled)$6.14
Tailings ($/t milled)$0.16
G&A ($/t milled)$2.06
Total ($/t milled)$19.10

*See Cautionary Statement

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